In 2017, global GDP growth reached the +3% post, a landmark it hadn’t reached since 2010. That will likely stay in sight in 2018 and 2019. The general trend comes from a rare combination of favorable factors: the US economy keeps expanding, China perfectly manages its economic transition, and the Eurozone comes back to the forefront. Still, the ﬂow of good news may hide some worrying excesses: The comeback of protectionism, mounting stocks of corporate debt and expectations of tightening monetary policies altogether make markets nervous.
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